North Stawell Minerals has completed a $1 million placement, issuing over 33 million shares to fund its exploration efforts in Victoria's Stawell Mineralised Corridor.
- Raised $1 million through placement of 33.3 million shares at $0.03 each
- Part of a larger $1.5 million capital raising targeting strategic gold investors
- Funds aimed at advancing exploration in the prolific Stawell Mineralised Corridor
- Remaining placement shares pending allocation after banking clearance
- Exploration focused on underexplored extensions near the historic Stawell Gold Mine
Capital Raising Progress
North Stawell Minerals Ltd (ASX, NSM) has successfully completed the first tranche of its planned $1.5 million capital raising, securing $1 million through the issuance of 33,333,335 ordinary shares at an issue price of $0.03 each. This milestone, announced on 24 June 2025, marks a significant step in the company’s efforts to bolster its financial position and accelerate exploration activities.
Strategic Focus on Gold Exploration
The funds raised will support North Stawell Minerals’ ongoing exploration in the Stawell Mineralised Corridor, a highly prospective region in Victoria known for its rich gold deposits. The company’s tenements cover 504 square kilometres along a 51-kilometre strike extension north of the historic Stawell Gold Field, which has yielded over five million ounces of gold. Using the Magdala orebody as a geological model, NSM aims to uncover large-scale gold mineralisation concealed beneath cover.
Placement Details and Next Steps
While the initial $1 million placement has been allocated, the remaining shares under the proposed $1.5 million raise are pending allocation, subject to the clearance of proceeds through the banking system. The company has released the necessary regulatory documents, including an Appendix 2A and cleansing notice, to support the share issuance.
Market and Investor Implications
This capital injection not only strengthens NSM’s balance sheet but also signals confidence from sophisticated and strategic gold investors in the company’s exploration strategy. As the company advances its drilling and geological programs, market participants will be watching closely for any discoveries that could unlock significant value in this underexplored corridor.
Bottom Line?
With $1 million secured, North Stawell Minerals is poised to deepen its search for Victoria’s next big gold discovery.
Questions in the middle?
- When will the remaining $0.5 million placement shares be allocated and proceeds cleared?
- What are the immediate exploration plans and timelines following this capital raise?
- How might new drilling results impact NSM’s valuation and investor sentiment?